The main objective of the task force, as stated by MIIT, is to develop specific terminology and architectural frameworks for the nascent metaverse sector, as well as to create fundamental industry standards. The working group comprises leading Chinese technology giants such as Huawei, Ant Group, Tencent, Baidu, NetEase, and Sense Time. Additionally, representatives from government bodies, academia, and various corporations are also part of this initiative.
Currently, there is a lack of consensus within scientific, industrial, and research circles regarding the precise definition of metaverses. This has led to speculation and divergence in the industry, causing the concept of metaverses to deviate from its practical applications, thereby hindering the industry’s progress, as explained by MIIT.
Previously, Chinese authorities have expressed their intention to promote the development of NFTs and decentralized applications, with the country actively leveraging blockchain technology. In 2021, MIIT published guidelines for the accelerated adoption of blockchain across various industries, while excluding the use of cryptocurrencies. Furthermore, in December, MIIT also revealed plans to create a strategy for advancing the Web3 sector.
It is worth noting that in 2022, the Chinese firm Taiyi Group acquired the social platform Huoxun to facilitate user engagement and the creation of digital collections and communities within the metaverse. However, authorities in the province of Wuhan later excluded NFTs from their Web3 development plan due to regulatory uncertainties.